Guideline Value for DESIGACHARI ROAD

Desigachari Road guideline value

The current guideline value of Desigachari Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This road is located in Mylapore village and falls under the Mylapore SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Desigachari Road has changed

The guideline value for Desigachari Road has seen several revisions over the years. The earliest available figure is from 2012, where the value was Rs 12,000 per sq.ft. This was followed by a decrease to Rs 8,040 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 12,000 per sq.ft, an increase of 49%. The most recent revision in 2024 saw another increase to Rs 13,200 per sq.ft, which is a 10% rise from the previous year.

It is important to note that there are no available figures for Desigachari Road in the revisions from 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, positioning Desigachari Road's 2024 figure above this median.

• Desikar Sesha Iyer Street: Rs 7,100 per sq.ft (2024)
• Devadi Street: Rs 8,800 per sq.ft (2024)
• De-Monte Street: Rs 8,800 per sq.ft (2024)
• De-Monte Colony: Rs 8,800 per sq.ft (2024)
• Deiva Sigamani Road: Rs 8,800 per sq.ft (2024)
• Devanathan Street: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Desigachari Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, making the total Rs 11,88,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Desigachari Road?

The Sub Registrar Office that covers Desigachari Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore. It is used to determine the stamp duty and registration fees applicable on the transaction. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Understanding the guideline value is essential for both buyers and sellers, as it helps in calculating the total costs involved in the property transaction. It also provides a benchmark for property pricing in the area, ensuring transparency in real estate dealings.

Frequently asked questions

What is the current guideline value of Desigachari Road?

The current guideline value of Desigachari Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 12,000 per sq.ft in 2012 to Rs 8,040 per sq.ft in 2017, then to Rs 12,000 per sq.ft in 2023, and finally to Rs 13,200 per sq.ft in 2024.

What is the land classification for Desigachari Road?

The land classification for Desigachari Road is Residential Class II Type - I.

Where is the Mylapore Sub Registrar Office located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 1,32,00,000 would incur a stamp duty of Rs 9,24,000 at a rate of 7%.